China stocks close up, led by energy and financials; HK shares down
Live MintSHANGHAI, - China stocks ended slightly higher on Monday, buoyed by gains in energy and financial shares, while smaller stocks weighed on overall performance. For 2024, onshore shares are set to log gains for the first time after three years of losses as multiple policy stimulus measures since September lifted market sentiment. ** China's finance ministry said in a statement on Monday that the proportion of new energy vehicles procured each year as government vehicles should not be less than 30% of the total and 100% in urban areas to "to support and promote" their use. ** China's central bank governor was quoted as saying by state media on Sunday that the weighted average reserve requirement ratio for banks stands at around 6.6% after the RRR cut, and this level still leaves "some room" when compared to the central banks of major global economies.